Infotech Enterprises net up at Rs 27.4 crore

BS 200 SCORECARD

Infotech Enterprises, a Hyderabad-based software services company, has reported a 203.8 per cent growth in net profit at Rs 27.4 crore for the year 2004-05 as compared with Rs 9 crore in the previous fiscal.

The net profit includes the share of profit (Rs 2.5 crore) from Infotech Aerospace Services Incorporation, from which the company divested a majority stake (51 per cent) to United Technologies Group Company,

UTIC for $5,50,000. During 2004-05 the company also acquired Tele Atlas India, the Indian subsidiary of Tele Atlas NV for Rs 8.29 crore. The consolidated results, therefore, is taking into consideration these factors as well.

Infotech's consolidated operating revenues have increased 37.2 per cent to Rs 25.71 crore from Rs 18.75 crore in 2003-04. The diluted earnings per share is Rs 18.53 per share for FY05 and the board has recommended a dividend of Rs 1.5 per share for the same period.

On a sequential basis, however, the company has registered a minor fall in the operating revenues from Rs 65.61 crore in the third quarter to Rs 65.17 crore in the fourth quarter.

This apart, its operating profit has also come down to Rs 12.95 crore in Q4 as compared to Rs 13.77 crore in Q3. Its net profit after tax is, however, higher by 28.6 per cent at Rs 7.64 crore on a sequential basis.